The combine I'm starting tomorrow is a $30k 20 day campaign.
I chose the 20day for it drops the daily limit to $75 from $150 on achieving
the $1500 profit target.
Must see the acceptable instruments to trade. Yes, there are limitations.
I'm choosing CL and GC instruments.
You can't exceed $500 daily drawdown limit or a max drawdown of $1500. If you do, you're disqualified from being funded. So keep that in mind. You can still trade out bit if you achieve the $1500 profit, won't matter.
Commissions are a flat $5/contract. Must keep that in mind for the overall.
You can trade upto 3 contracts. You can't have open orders exceeding 3 contracts, otherwise they will be cancelled.
Can't hold positions through the overnight maintenance period. Yes you can trade after hours, just make sure any or all orders are closed prior to the overnight maintenance period. Otherwise all profits with that trade will be removed.
The following user says Thank You to msull35706 for this post:
Not sure of Cory's Vol Stop indy being similar to Right Line's....
All I know the indicator is titled RLOrderFlowEntry.
This shows asymmetry in the sense of hi vol at tops/bottoms of candles t take advantage of
in a trap trade, like the ABC formations creating an engulfing 'C' over/under 'B'.
If 'B' has asymmetry associated to it, I can look to take advantage of a decent impulse move
traping those longs/shorts...
I'm sure if you search long and hard enough you will find similarities to Mark's or any other commercially sold
I like the added sense of community with Right Line and feel that in and of itself is worth price of admission.
The following 3 users say Thank You to msull35706 for this post:
I think you are doing it the correct way. Perfect the trade execution, repeat, rinse, do it one more time. Most of us rookies have never done 100 or 200 trades of the same setup. Thus lack of confidence in our home made methods. If you keep at it you will build a good account. Then, position sizing should be the icing on the cake.
Cool stuff Mike. Keep up the good work. If it's one thing I know and have learned the hard way, is that as a trader, the only thing I control is risk. So I have major misgivings about ABCs, 123s, or anything of that sort when trading on shorter time frames. I just think price projection is for the birds and will wind up costing you in the long run. I probably know EW as well as anyone around, and have attempted its use in combination with fibs, etc. and I won't bother telling you the results because it would be embarrassing.
Thx Christo for your input.
Time will tell as I post and journal the 4 core trading methods on how they work out.
If you saw my postings on the Vendor Right Line Trading thread, ABC's were happening all over the
place for profits.
My whole intentions of what I'm doing is trial by fire on these core 4 methods.
I'm also working with Mark for Right Line, on a few other added trade setups
that are stalling patterns into the 15MA and that don't have any associated signals
to the qualified bar touching the 15MA
I admire your dedication to going all in while learning RLT. Immersing yourself in the material and gaining a good foothold on the core structure of the setups is the best way to start out. For what it's worth my recommendation to you would be to track further details on your trades. Such as MAE, MFE, combined with the trade setups that you are taking. Having these statistics will allow you to further hone your targets and stops. It can be tedious and may seem labor intensive to track all that data but you will be surprised at how having those stats will not only allow you to hone your craft but also adds to your confidence in your method. I have to say I ma intrigued by RLT and Marks offerings.
What kind of insights can you provide regarding the trading room? Is it a free for all, or a casual moderated environment? What is the tone like in the room (traders helping traders or some know it all types)? Are the moderators screens available to bee seen and are the trades taken shown on the screen?
Thx for logging/tracking advice. Much appreciated.
I've never participated in trade room.
I feel what is needed in a trade room if there are defined setups to take.
I start my trading day earlier than the room.
Mark will review charts if you want his advice on them, so to me that's totally worth it!!
BTW: If you reach out to Mark, he will most likely give you a 3 day trial in room to get a flavor on
setups. I would allow you to view my screen thru TeamViewer if need be, or anyone for that matter
if there's genuine interest....